Block and Core Scientific in supply deal for new 3 nanometer mining ASICs

Block (SQ) and Core Scientific (CORZ) announced an agreement to supply Core Scientific with Block’s new 3 nanometer mining ASICs, built by the Proto team, representing approximately 15 EH/s (exahashes per second) of hashrate. The agreement provides the option for additional, significant volume and is one of the industry’s largest bitcoin mining ASIC agreements announced, in terms of hashrate. In support of its mission to democratize bitcoin mining, the Proto team at Block is developing a modular mining platform around its ASIC mining chip to deliver an innovative, integrated bitcoin mining solution that offers several advantages over existing mining system designs, resulting in improved efficiency, reliability, and uptime in large-scale mining operations. It’s designed to simplify infrastructure demands and optimize the use of space and operational resources within data centers such as those operated by Core Scientific and also prioritizes sustainability and compatibility by integrating with existing infrastructure and promoting the reuse of non-ASIC elements of the hardware stack. “This agreement is a good example of how we envision our mining products pushing forward the advancement and decentralization of the mining industry,” explains Thomas Templeton, Lead of the Proto team at Block. “Core Scientific is known for its high standards of operational excellence, advanced infrastructure, and deep expertise in mining. We are excited to break new ground by teaming with a leading mining operator to build a unique, tailor-made mining solution leveraging our ASICs.”